Sunday, July 22, 2018
News

NCLT approves Vedanta's resolution plan for Electrosteel

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Kolkata | Tuesday, 2018 4:45:04 PM IST
The National Company Law Tribunal's (NCLT) Kolkata bench on Monday approved Vedanta Ltd's resolution plan for the insolvent Electrosteel Steels Ltd.

During the insolvency proceedings, the debt-laden company's resolution professional had submitted Vedanta's resolution plan before the bench for final disposal after lenders declared it as "successful resolution applicant".

"The approved (by Committee of Creditors) resolution plan shall come into force with immediate effect," the order said.

Vedanta informed stock exchanges that it was declared "successful resolution applicant" under the insolvency process and had received the Letter of Intent. The company also said it had accepted the terms outlined in it.

--IANS bdc/vd

( 113 Words)

2018-04-17-16:22:08 (IANS)

Watch News Videos

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
TRENDING TOPICS
 
 
 
CITY NEWS
MORE CITIES
 
MORE BUSINESS NEWS
Dollar declines amid Trump comments...
Orient Cement plans to invest Rs 2,000 c...
Central team in Kerala to inspect flood-...
Upcoming Samsung Galaxy Watch to come in...
Modi in UP to address farmers...
Snapdeal offers up to 80 percent discoun...
More...
 
INDIA WORLD ASIA
Pilgrim dies of suspected cardiac arrest...
Modi should run a campaign to tender apo...
TDP, Congress combine strategy boomerang...
Dattatreya conducts padayatra in Hyderab...
Vardhan inaugurates advanced SAFAR weath...
Equal training, job opportunities to be ...
More...    
 
 Top Stories
Eleven IS militants surrender in Af... 
Taxi union in Goa warn of agitation... 
India will always be Sri Lanka's fi... 
China President Xi welcomed in Sene... 
Cuba's draft constitution opens pat... 
Sprinter Anas sets new national rec... 
Two Russians arrested in Goa for gr... 
Piyush Goyal introduces simplified ...